Richard D. Parsons, is considering stepping down after three years as chairman of Citigroup.REUTERS

Richard D. Parsons, who as chairman of Citigroup helped steer the bank through its near-death experience in the financial crisis, is considering stepping down after three years in the post, according to people familiar with the situation.

The 63-year-old Parsons is expected to decide by early March, the sources said.

Regardless of his decision, Citigroup is expected to keep separate the posts of chairman and chief executive, these people said.

A spokesman for Parsons referred questions to Citigroup. A bank spokeswoman declined to comment.

Parsons, who became chairman in 2009 and has been a Citigroup director since 1996, has said he would remain until the New York company was on solid ground.

Bad bets on mortgages and other securities nearly sank Citigroup in 2008 and forced the bank to accept tens of billions of dollars in US aid. In 2011, Citigroup had a profit of $11.3 billion, though it still faces the same pressures all commercial and investment banks are confronting. Citigroup shares are down 36 percent in the past year.

With Citigroup out of the woods, Parsons is said to want to focus on other interests. He is a senior adviser to Providence Equity Partners, a private-equity firm that focuses on the media industry, and is a jazz aficionado.

Also making it easier for Parsons to go is the fact that Citigroup CEO Vikram Pandit, who took over from Charles “Chuck” Prince III in 2007, has gained more commercial banking experience and has earned the respect of the company’s directors, people familiar with the matter said.

“We like what Citi is doing,” according to Michael Yoshikami, chief executive and founder of YCMNet Advisors, a Walnut Creek, Calif., asset-management firm.

Still, the board is not expected to make Pandit, 55, chairman if Parsons steps down.

Regulators have urged companies to keep the posts separate to promote boardroom independence.

In contrast, James Dimon of J.P. Morgan Chase, John Stumpf of Wells Fargo, Lloyd Blankfein of Goldman Sachs Group and James Gorman of Morgan Stanley are chairman and CEO at their respective companies.

Parsons is best known for his stewardship of Time Warner as chairman and chief executive after the media company’s much-criticized 2000 merger with America Online.

At Citigroup, Parsons’ move to chairman initially was criticized by some investors and regulators because he had been a director long before the bank stumbled. The criticism quieted as Parsons worked behind the scenes with regulators to erase ill will and rebuild confidence in Citigroup’s strategy.